Saraswati Saree Depot is scheduled to hit the market on August 12, 2024 and close on August 14, 2024. Saraswati Saree Depot plans to raise around ₹160.01 Cr through an IPO with a sale of up to 10,000,800 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Saraswati Saree Depot Limited, established in 1996, specializes in manufacturing and wholesale distribution of women's apparel, primarily focusing on sarees. The company operates predominantly in the B2B segment, sourcing products from over 900 weavers and suppliers across various states in India. Its extensive product catalog features more than 300,000 unique SKUs, including kurtis, dress materials, blouse pieces, lehengas, and bottoms. The company mainly serves customers in the southern and western regions of India, particularly Maharashtra, Goa, Karnataka, and Tamil Nadu, having catered to over 13,000 unique clients in fiscal 2024.
With more than 90 percent of its revenue derived from saree sales, Saraswati Saree Depot organizes its offerings by occasion, fabric, weave, and ornamentation. As of June 30, 2024, the company employed 314 individuals across various departments to support its operations and growth in the competitive apparel market.
Saraswati Saree Depot IPO Details
Saraswati Saree Depot IPO opens on August 12, 2024, and closes on August 14, 2024. The Listing date for Saraswati Saree Depot IPO is on August 20, 2024. The price band for IPO is ₹152 to ₹160 per share and lot size of 90 Shares.
| IPO Date | August 12, 2024 to August 14, 2024 |
| Listing Date | August 20, 2024 |
| Price | ₹152 to ₹160 per share |
| Lot Size | 90 Shares |
| Issue Size | ₹160.01 Cr |
| Face Value | ₹10 per share |
Saraswati Saree Depot IPO Tentative Timetable
Saraswati Saree Depot opening date is August 12, 2024 and close date is August 14, 2024. The IPO allotment date is August 16, 2024. Therefund initiation of IPO is on August 19, 2024. The credit of shares in demat account is on August 19, 2024. The listing date is on August 20, 2024.
| Event | Date |
|---|---|
| IPO Opening | August 12, 2024 |
| IPO Closing | August 14, 2024 |
| IPO Allotment Date | August 16, 2024 |
| Refund Initiation | August 19, 2024 |
| Shares Credit to Demat | August 19, 2024 |
| Lisiting Date | August 20, 2024 |
Saraswati Saree Depot IPO Lot Size
Lot Size of this IPO is 90 shares. A retail-individual investor can apply for up to 13 lots (1170 shares or ₹187,200).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 90 | ₹14,400 |
| Retail(Maximum) | 13 | 1170 | ₹187,200 |
| S-HNI (Minimum) | 14 | 1,260 | ₹201,600 |
| B-HNI (Minimum) | 70 | 6,300 | ₹1,008,000 |
Saraswati Saree Depot IPO Promoter Holding
| Pre Issue Share Holding | 100.00 |
| Post Issue Share Holding |
Saraswati Saree Depot IPO Review
Saraswati Saree Depot Ltd. (SSDL) is distinguished in the wholesale saree market, generating more than 90% of its revenue from saree sales alone. Established in 1966, SSDL has evolved into a major player in the saree wholesale sector, extending its offerings to include Kurtis, dress materials, and other women's apparel. The company's extensive product range features over 300,000 SKUs, sourced from more than 900 weavers across India. With a customer base exceeding 13,000, SSDL's business model effectively targets semi-wholesalers and retailers, contributing to its robust market position. The company's strategic move to a larger facility in Kolhapur in 2015 and the expansion of its product line in 2017 further underscore its commitment to growth and diversification.
The IPO being launched by SSDL involves a combination of fresh equity shares and an Offer for Sale (OFS), with a total issue size of Rs. 160.02 crore and a price band set between Rs. 152 and Rs. 160 per share. The fresh equity component aims to raise Rs. 104 crore, with proceeds earmarked for working capital and general corporate needs. The company has demonstrated impressive financial performance, with revenue and net profit growth over the past fiscal years. For FY24, SSDL posted a PAT margin of 4.83%, reflecting its strong financial health. However, the issue appears fully priced based on FY24 earnings, with a P/E ratio of 21.45, indicating that investors may need to weigh the current valuation against the company’s growth prospects.
SSDL’s distinctive B2B model, predominantly focused on saree wholesale, and its recent expansion into other apparel categories position it as an appealing investment opportunity. The company’s substantial revenue growth and strategic diversification into Kurti and dress materials, along with branded suiting/shirting, suggest promising medium to long-term potential. Although the IPO valuation may seem elevated, SSDL’s strong market position and ongoing expansion efforts could offer substantial rewards for informed investors willing to look beyond the initial pricing.
Saraswati Saree Depot IPO Subscription Status (Bidding Details)
Table not foundSaraswati Saree Depot IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Saraswati Saree Depot IPO FAQs
What is Saraswati Saree Depot IPO?
Saraswati Saree Depot is issuing 10,000,800 equity shares with a face value of ₹10 each, totaling up to ₹160.01 Cr. The shares are being offered at a price of ₹152 to ₹160 each, with a minimum order quantity of 90 shares.
Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Saraswati Saree Depot IPO will open?
Saraswati Saree Depot will open on August 12, 2024 for QIB, NII, and Retail Investors.
When Saraswati Saree Depot IPO will end?
Saraswati Saree Depot will end on August 14, 2024.
What is Saraswati Saree Depot IPO Size?
Saraswati Saree Depot IPO size is ₹160.01 Cr.
What is Saraswati Saree Depot IPO Price Band?
Saraswati Saree Depot price band is ₹152 to ₹160 per share.
What is the Saraswati Saree Depot IPO Allotment Date?
Saraswati Saree Depot allotment date is August 16, 2024.
What is the Saraswati Saree Depot IPO Listing Date?
Saraswati Saree Depot listing date is August 20, 2024. The IPO is to be listed on BSE and NSE.
How to Saraswati Saree Depot IPO through Zerodha?
To apply for the IPO “Saraswati Saree Depot” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Saraswati Saree Depot IPO through Upstox?
To apply for the IPO “Saraswati Saree Depot” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Saraswati Saree Depot IPO Allotment Status?
For Saraswati Saree Depot IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Saraswati Saree Depot IPO GMP?
You can check out here: Saraswati Saree Depot IPO GMP